Officials broke ground on a 103-unit affordable housing community for seniors in New Orleans.
Located on the site of the former B.W. Cooper public housing site, the new Erato Street development will repurpose an existing building on the property as the administrative headquarters and primary entrance into the senior residential community.
“Today, we are addressing one of our city’s most urgent needs—the demand for safe, sustainable, and affordable housing for seniors,” said developer Terri North, president and CEO of Providence Community Housing. “For 20 years, Providence Community Housing has helped transform lives and communities by developing and preserving affordable homes for families and seniors. We also help older adults maintain their independence by connecting them to health care, nutrition, transportation, and other community-based supports.”
Low-income seniors 62 and older earning at or below 50% of the area median income will be eligible to apply for the one-bedroom apartments. Project-based Section 8 vouchers provided by the Housing Authority of New Orleans (HANO) will be available for all units.
“HANO is proud to partner with Providence Community Housing for this impactful project that will ensure safe, sustainable, and dignified housing for our senior community,” said HANO executive director Marjorianna Willman. “This development aligns with our long-term goal of creating essential and stable homes that offer easy access to vital supportive services and programs specifically designed for seniors.”
Co-developer Columbia Residential will oversee the day-to-day on-site property management and maintenance, including shared community spaces such as resident gathering areas and gardens. Residents will also benefit from energy-efficient appliances and amenities, including a business center and fitness center. Designed with resilience and sustainability in mind, the development will feature a fortified roof and meet Enterprise Green Communities certification standards.
“This development reflects our continued commitment to creating communities where older adults can live with dignity, maintain independence, and stay connected to the neighborhoods they call home,” said Columbia Residential president Carmen Chubb.
The $39 million Erato Street development is financed through federal 4% low-income housing tax credits, tax-exempt bonds, and PRIME-3 funds administered by the Louisiana Housing Corp. Regions is providing equity and construction financing, with permanent financing from Fannie Mae and additional support from the city of New Orleans.